Jet2 (LON:JET2) Shares Down 12.2% on Analyst Downgrade

Jet2 plc (LON:JET2) shares traded down 12.2% during trading on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from GBX 2,150 to GBX 2,059. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Jet2 traded as low as GBX 1,207 ($16.30) and last traded at GBX 1,415.63 ($19.12). 19,889,873 shares changed hands during mid-day trading, an increase of 1,760% from the average session volume of 1,069,174 shares. The stock had previously closed at GBX 1,613 ($21.79).

A number of other research firms have also recently commented on JET2. Canaccord Genuity Group lowered their target price on Jet2 from GBX 2,335 to GBX 2,250 and set a “buy” rating for the company in a research note on Thursday. JPMorgan Chase & Co. restated an “overweight” rating on shares of Jet2 in a research note on Friday, July 18th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 2,200 price objective on shares of Jet2 in a research note on Thursday, July 10th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of GBX 2,139.75.

Jet2 Stock Up 3.2%

The stock has a 50 day simple moving average of GBX 1,653.53 and a 200-day simple moving average of GBX 1,577.22. The firm has a market cap of £3.02 billion, a PE ratio of 702.70, a PEG ratio of 9.34 and a beta of 2.27. The company has a debt-to-equity ratio of 103.30, a current ratio of 1.36 and a quick ratio of 1.49.

Jet2 (LON:JET2) last announced its quarterly earnings data on Wednesday, July 9th. The company reported GBX 213.10 earnings per share (EPS) for the quarter. Jet2 had a return on equity of 26.53% and a net margin of 6.38%. Sell-side analysts predict that Jet2 plc will post 170.9134615 EPS for the current fiscal year.

About Jet2

Jet2 plc is a leading leisure travel group, specialising in friendly low fares from its award-winning airline, Jet2.com, and package holidays you can trust from the UK’s largest package holiday provider, Jet2holidays.
Jet2.com is the UK’s third largest airline, flying from 12 UK airports to over 70 destinations across Europe and beyond and Jet2holidays is the UK’s largest tour operator.